Global strategic petroleum reserves
Encyclopedia
Global strategic petroleum reserves ("GSPR") refer to crude oil
inventories (or stockpiles) held by the government of a particular country, as well as private industry, for the purpose of providing economic and national security
during an energy crisis
. According to the United States Energy Information Administration
, approximately 4.1 Goilbbl of oil are held in strategic reserves, of which 1.4 billion is government-controlled. The remainder is held by private industry. At the moment the US Strategic Petroleum Reserve
is one of the largest strategic reserves, with much of the remainder held by the other 26 members of the International Energy Agency
. Other non-IEA countries have begun creating their own strategic petroleum reserves, with China being the largest of these new reserves.
Since current consumption levels are neighboring 0.1 Goilbbl per day, in the case of a dramatic worldwide drop in oil field output as suggested by some peak oil
analysts, the strategic petroleum reserves are unlikely to last for more than a few months.
must have a strategic petroleum reserve equal to 90 days of prior year's net oil imports for their respective country.
Only net-exporter members of the IEA are exempt from the reserve requirement. The exempt countries are Canada
, Denmark
, Norway
, and the United Kingdom
. However, Denmark and the UK have both recently created strategic reserves due to their requirements as European Union
members.
South Korea and Japan have also agreed to share their oil reserves in case of an emergency.
has an SPR. It is managed by PetroSA and the primary facility is the Saldanha Bay
oil storage facility, which is a major transit point for oil shipping. Saldanha Bay's six in-ground concrete storage tanks give the facility a storage capacity of 45000000 barrels (7,154,428,275 l).
Malawi
is considering creating a 21-day reserve of fuel, which is an expansion from the current five day reserve. The government has begun planning for storage facilities in the provinces of Chipoka
and Mchinji
as well as Kamuzu International Airport.
Kenya
is setting up a Strategic Fuel Reserve, similar to that of cereals. The strategic stocks would be procured by the National Oil Corporation of Kenya
and stored by the Kenya Pipeline Company
Limited.
the head of the National Energy Administration also stated that there will be a third phase that will expand reserves by 204000000 barrels (32,433,408,180 l) with the goal of increasing China's SPR to 90 days of supply by 2020.
The planned state reserves of 475900000 barrels (75,662,053,690.5 l) plus the planned enterprise reserves of 209440000 barrels (33,298,299,064.8 l) will provide around 90 days of consumption or a total of 684340000 barrels (108,801,365,460.3 l).
has begun the development of a strategic crude oil reserve sized at 37400000 barrels (5,946,124,833 l), enough for two weeks of consumption. Petroleum stocks have been transferred from the Indian Oil Corporation
(IndianOil) to the Oil Industry Development Board (OIDB). The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.
The facilities are:
has an SPR composed of the following three types of stockpiles:
The state stockpile and the privately held stockpiles total about 583000000 barrels (92,689,592,985 l). The Japanese SPR is run by the Japan Oil, Gas and Metals National Corporation
holds strategic oil reserves to protect against oil supply disruptions. The country’s strategic oil reserve program is managed by the Korea National Oil Corporation
, which reports that its system has the capacity to store 116000000 barrels (18,442,526,220 l) of oil. As of April 2007, KNOC held 76000000 barrels (12,083,034,420 l) of oil in its strategic stockpiles, 64000000 barrels (10,175,186,880 l) of crude oil and 12000000 barrels (1,907,847,540 l) of petroleum products.
This total amounts to approximately 34 days of net import cover, according to 2006 estimates of demand. KNOC has plans to expand the country’s strategic storage capacity from 116000000 barrels (18,442,526,220 l) to 146000000 barrels (23,212,145,070 l) by 2009, and to fill the emergency reserves to 141000000 barrels (22,417,208,595 l) by 2010.
has begun plans for a National Petroleum Strategic Reserve by 2010 with an approximate size of 30000000 barrels (4,769,618,850 l).
Russia
has begun plans for a strategic petroleum reserve. Analysts estimate the size of the Russian SPR would be around 78000000 barrels (12,401,009,010 l).
Singapore
has an SPR composed of 31.8 Moilbbl of crude oil with an additional 64.5 Moilbbl of oil products for a total of 96300000 barrels (15,310,476,508.5 l).
Taiwan
has an SPR with a 1999 reported size of 13000000 barrels (2,066,834,835 l). Taiwan's refiners (Kaohsiung 270000 oilbbl/d; Ta-Lin 300000 oilbbl/d; Tao-Yuan 200000 oilbbl/d; Mailiao 150,000 bbl/d) are also required to store at least 30 days of petroleum stocks. As of 2005, these mandated commercial reserves total 27600000 barrels (4,388,049,342 l) of strategic petroleum stocks.
Thailand
has increased the size of its SPR from 60 days to 70 days of consumption in 2006.
Pakistan
has begun plans for a 20 day emergency reserve.
, according to Council Directive 68/414/EEC of 20 December 1968, all 27 members must have a strategic petroleum reserve within the territory of the E.U. equal to at least 90 days average daily internal consumption.
The Czech Republic
has a four tank SPR facility in Nelahozeves
run by the company CR Mero. The Czech SPR is equal to 100 days of consumption or 20300000 barrels (3,227,442,088.5 l).
Denmark
has a reserve of 81 days of consumption, equal to about 1,4 million tonnes of oil products. Not counting reserves held by the military defence.
Finland
has an SPR with an approximate size of 62400000 barrels (9,920,807,208 l).
France
has an SPR with an approximate size of 65000000 barrels (10,334,174,175 l). As of 2000 jet fuel stocks were required for at least 55 days of consumption, with half of those stocks controlled by the Société Anonyme de Gestion des Stocks de Sécurité (SAGESS) and the other half controlled by producers.
Germany
created the Federal Oil Reserve in 1970, stored in the Etzel salt caverns near Wilhelmshaven
in northern Germany, with an initial size of 70 Moilbbl. The current German Federal Oil Reserve and the Erdölbevorratungsverband (EBV) (the German stockholding company) mandates that refiners must keep 90 days of stock on hand, giving Germany an approximate reserve size of 250000000 barrels (39,746,823,750 l) as of 1997. The German SPR is the largest in Europe.
Hungary
has an SPR with approximately 90 days of consumption or 11880000 barrels (1,888,769,064.6 l).
Ireland
has approximately 31 days of oil stocks in Ireland and another 9 days of oil stocks held in fellow EU
members states. Additionally, they have stock tickets (contracts with a 3rd party where the government has the option to purchase in the event of an emergency) and stocks held by large industry or large consumers. On average Ireland has approximately 100 days of oil available.
Poland
has an SPR with approximately 70 days of consumption. Another facility holding 20 additional days of consumption is scheduled to be completed in 2008. Poland also requires oil companies to maintain reserves sufficient for 73 days of production.
Portugal
has an SPR with an approximate size of 22440000 barrels (3,567,674,899.8 l).
Slovakia
has an SPR with an approximate size of 748000 barrels (118,922,496.7 l).
Spain
has an SPR with an approximate size of 120000000 barrels (19,078,475,400 l).
Sweden
has an SPR with an approximate size of 13290000 barrels (2,112,941,150.6 l).
The United Kingdom
has created a strategic reserve, the size is unknown.
has SPRs consisting of gas, diesel, jet fuel and heating oil for 4.5 months of consumption. The reserves were created in the 1940s and were used for the first time in 2005 following Hurricane Katrina
.
has begun plans to create an SPR. The National Iranian Oil Company
(NIOC) has begun construction of 15 crude oil storage tanks with a planned capacity of 10000000 barrels (1,589,872,950 l). In August 2008, Iran announced plans to expand their SPR with a new facility on Kharg Island
containing 4 tanks holding 1000000 barrels (158,987,295 l) each. Iran's SPR facilities are:
has a joint stockpile held in South Korea
. The deal gives South Korea first rights to purchase the oil. The current size of the stockpile is 2 Moilbbl.
is believed to have a strategic oil reserve equal to 270 days of consumption.
Jordan
has strategic oil reserves equal to 60 days of consumption or 6240000 barrels (992,080,720.8 l).
has the largest reported Strategic Petroleum Reserve
with a total capacity of 727000000 barrels (115,583,763,465 l). If completely filled, the US SPR could theoretically replace about 60 days of oil imports as the US is estimated to import approximately 12000000 oilbbl/d of crude oil. According to the US Department of Energy the facilities maximum flow rate is limited to approximately 4400000 oilbbl/d when filled to maximum, with flow rate declining as the reserve is drawn down. The U.S. facilities are in salt caverns with locations in:
The US has also organized the 2 Moilbbl Northeast Home Heating Oil Reserve
to supply northeast homeowners during shortages.
has a strategic reserve with a 2008 size of 170,000 tons or 1200000 barrels (190,784,754 l). Much of this reserve is based on ticketed option contracts with Australia, Japan, the United Kingdom and the Netherlands, which allow for guaranteed purchases of petroleum in the event of an emergency.
For more info on the IEA reserves:
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
inventories (or stockpiles) held by the government of a particular country, as well as private industry, for the purpose of providing economic and national security
National security
National security is the requirement to maintain the survival of the state through the use of economic, diplomacy, power projection and political power. The concept developed mostly in the United States of America after World War II...
during an energy crisis
Energy crisis
An energy crisis is any great bottleneck in the supply of energy resources to an economy. In popular literature though, it often refers to one of the energy sources used at a certain time and place, particularly those that supply national electricity grids or serve as fuel for vehicles...
. According to the United States Energy Information Administration
Energy Information Administration
The U.S. Energy Information Administration is the statistical and analytical agency within the U.S. Department of Energy. EIA collects, analyzes, and disseminates independent and impartial energy information to promote sound policymaking, efficient markets, and public understanding of energy and...
, approximately 4.1 Goilbbl of oil are held in strategic reserves, of which 1.4 billion is government-controlled. The remainder is held by private industry. At the moment the US Strategic Petroleum Reserve
Strategic Petroleum Reserve
The Strategic Petroleum Reserve is an emergency fuel storage of oil maintained by the United States Department of Energy.- United States :The US SPR is the largest emergency supply in the world with the current capacity to hold up to ....
is one of the largest strategic reserves, with much of the remainder held by the other 26 members of the International Energy Agency
International Energy Agency
The International Energy Agency is a Paris-based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development in 1974 in the wake of the 1973 oil crisis...
. Other non-IEA countries have begun creating their own strategic petroleum reserves, with China being the largest of these new reserves.
Since current consumption levels are neighboring 0.1 Goilbbl per day, in the case of a dramatic worldwide drop in oil field output as suggested by some peak oil
Peak oil
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This concept is based on the observed production rates of individual oil wells, projected reserves and the combined production rate of a field...
analysts, the strategic petroleum reserves are unlikely to last for more than a few months.
International Energy Agency reserves
According to a March 2001 agreement, all 28 members of the International Energy AgencyInternational Energy Agency
The International Energy Agency is a Paris-based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development in 1974 in the wake of the 1973 oil crisis...
must have a strategic petroleum reserve equal to 90 days of prior year's net oil imports for their respective country.
Only net-exporter members of the IEA are exempt from the reserve requirement. The exempt countries are Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, Norway
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
, and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. However, Denmark and the UK have both recently created strategic reserves due to their requirements as European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
members.
Forward commercial storage agreements
To allow oil-exporting countries increased flexibility in their production quotas, there has been an increased movement towards forward commercial storage agreements. These agreements allow petroleum to be stored at an oil-importing country, however the reserves are technically under the control of the oil-exporting country. Oil importing countries benefit from the close access to the commercial reserves, while reducing the costs of access.Emergency oil sharing agreements
In addition to maintaining a domestic stockpile of petroleum, several countries also have agreements to share their stockpiles in the event of an emergency.The Japan, New Zealand and South Korea agreement
In mid-2007 Japan announced a program to share its strategic reserve with other countries in its region. Negotiations are currently underway with New Zealand on an emergency oil-sharing program whereby Japan would make available for purchase its strategic reserves. In an emergency New Zealand would pay the market price plus negotiated option fees for the amount of oil previously held for them by Japan.South Korea and Japan have also agreed to share their oil reserves in case of an emergency.
The United States and Israel agreement
According to the 1975 Second Sinai withdrawal document signed by the United States and Israel, in an emergency the U.S. is obligated to make oil available for sale to Israel for up to 5 years.The France, Germany, and Italy agreement
France, Germany and Italy have an oil-sharing agreement to allow each other to purchase their strategic reserves in the event of an emergency.Africa
South AfricaSouth Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
has an SPR. It is managed by PetroSA and the primary facility is the Saldanha Bay
Saldanha Bay
Saldanha Bay is a natural harbour on the south-western coast of South Africa, north west of Cape Town. The town that developed on the northern shore of the bay, also called Saldanha, was incorporated with five other towns into the Saldanha Bay Local Municipality in 2000. The current population of...
oil storage facility, which is a major transit point for oil shipping. Saldanha Bay's six in-ground concrete storage tanks give the facility a storage capacity of 45000000 barrels (7,154,428,275 l).
Malawi
Malawi
The Republic of Malawi is a landlocked country in southeast Africa that was formerly known as Nyasaland. It is bordered by Zambia to the northwest, Tanzania to the northeast, and Mozambique on the east, south and west. The country is separated from Tanzania and Mozambique by Lake Malawi. Its size...
is considering creating a 21-day reserve of fuel, which is an expansion from the current five day reserve. The government has begun planning for storage facilities in the provinces of Chipoka
Chipoka
Chipoka is a town located in the Central Region district of Salima, in Malawi. It is one of the main ports on Lake Malawi.Nearby towns and villages include Chaseta , Ndembo , Kalombola , Lowe , Mazenjele , Chikanda , Milala , Mkangawi , Mzembela , Pemba and Kachindamoto....
and Mchinji
Mchinji
Mchinji is a town in the Mchinji District of the Central Region of Malawi. As of 2008 estimates, Mchinji has a population of 25,184. The area's economy is sustained by rain-fed agriculture, although the town is currently in the midst of a food crisis. Mchinji is also a major railroad junction,...
as well as Kamuzu International Airport.
Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
is setting up a Strategic Fuel Reserve, similar to that of cereals. The strategic stocks would be procured by the National Oil Corporation of Kenya
National Oil Corporation of Kenya
The National Oil Corporation of Kenya is a state corporation of Kenya founded by Act of Parliament in 1981, with a mandate of participating in all aspects of the Kenyan petroleum industry; it is 100% owned by the Kenyan government. The company is known as National Oil or as "NOCK"...
and stored by the Kenya Pipeline Company
Kenya Pipeline Company
Kenya Pipeline Company is a state corporation that has the responsibility of transporting, storing and delivering petroleum products to the consumers of Kenya by its pipeline system and oil depot network....
Limited.
China
In 2007 China announced an expansion of their crude reserves into a two part system. Chinese reserves would consist of a government-controlled strategic reserve complemented by mandated commercial reserves. The government-controlled reserves are being completed in three phases. Phase one consisted of a 101900000 barrels (16,200,805,360.5 l) reserve, mostly completed by the end of 2008. The second phase of the government-controlled reserves with an additional 170000000 barrels (27,027,840,150 l) will be completed by 2011. Recently, Zhang GuobaoZhang Guobao
Zhang Guobao is Vice Chairman of the National Development and Reform Commission.-Biography:Zhang Guobao was born in Zhejiang. He graduated from Xi'an Jiaotong University with a mechanical engineering degree and became a senior engineer...
the head of the National Energy Administration also stated that there will be a third phase that will expand reserves by 204000000 barrels (32,433,408,180 l) with the goal of increasing China's SPR to 90 days of supply by 2020.
The planned state reserves of 475900000 barrels (75,662,053,690.5 l) plus the planned enterprise reserves of 209440000 barrels (33,298,299,064.8 l) will provide around 90 days of consumption or a total of 684340000 barrels (108,801,365,460.3 l).
India
IndiaIndia
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
has begun the development of a strategic crude oil reserve sized at 37400000 barrels (5,946,124,833 l), enough for two weeks of consumption. Petroleum stocks have been transferred from the Indian Oil Corporation
Indian Oil Corporation
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters are in Mumbai, India. It is India’s largest commercial enterprise, ranked 98th on the Fortune Global 500 list for 2011...
(IndianOil) to the Oil Industry Development Board (OIDB). The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.
The facilities are:
- MangaloreMangaloreMangalore is the chief port city of the Indian state of Karnataka. It is located about west of the state capital, Bangalore. Mangalore lies between the Arabian Sea and the Western Ghat mountain ranges, and is the administrative headquarters of the Dakshina Kannada district in south western...
, State of KarnatakaKarnatakaKarnataka , the land of the Kannadigas, is a state in South West India. It was created on 1 November 1956, with the passing of the States Reorganisation Act and this day is annually celebrated as Karnataka Rajyotsava...
. Capacity of 11.22 Moilbbl. - Padur village, Udipi in the state of KarnatakaKarnatakaKarnataka , the land of the Kannadigas, is a state in South West India. It was created on 1 November 1956, with the passing of the States Reorganisation Act and this day is annually celebrated as Karnataka Rajyotsava...
. Capacity of 18.7 Moilbbl. - VisakhapatnamVisakhapatnamVisakhapatnam is a major sea port on the south east coast of India. With a population of approximately 1.7 million, it is the second largest city in the state of Andhra Pradesh and the third largest city on the east coast of India after Kolkata and Chennai. According to the history, the city was...
, State of Andhra PradeshAndhra PradeshAndhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
. Capacity of 7.48 Moilbbl.
Japan
As of 2010 JapanJapan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
has an SPR composed of the following three types of stockpiles:
- State controlled reserves of petroleum at eleven different locations totaling 324000000 barrels (51,511,883,580 l). All numbers, unless otherwise cited, come from p. 177 of this document: http://www.iea.org/textbase/nppdf/free/2000/oilsecu2001.pdf
- Tomakomai Eastern Oil Reserve Storage Base, 55 storage tanks, total capacity 34 Moilbbl.
- Mutsu-Ogawara Storage Base, 53 storage tanks, total capacity 31 Moilbbl.
- Kuji Storage Base, 3 storage tanks, total capacity 10.5 Moilbbl.
- AkitaAkita, Akitais the capital city of Akita Prefecture in the Tohoku region of Japan.As of June 11, 2005, with the merger of the former Kawabe District , the city has an estimated population of 323,310 and density of...
Storage Base, 15 storage tanks, total capacity 23.4 Moilbbl. - FukuiFukui, Fukuiis the capital of Fukui Prefecture, Japan. The city is located in the north-central part of the prefecture on the coast of the Sea of Japan.-Demographics:...
Storage Base, 27 storage tanks, total capacity 17.9 Moilbbl. - Kikuma Underground Petroleum Storage Facility, 8 storage tanks, total capacity 8.9 Moilbbl.
- Shirashima Storage Facility, 8 tankers (4400000 barrels (699,544,098 l) each), total capacity 35.2 Moilbbl.
- Kamigotou Storage Base, 7 storage tanks, total capacity 21.45 Moilbbl.
- Kushikino Storage Base, 3 storage tanks, total capacity 10.5 Moilbbl.
- ShibushiShibushiShibushi can refer to:*Shibushi, Kagoshima, a city in Kagoshima, Japan*Shibushi, another name for the Bushi language...
Storage Base, 40 storage tanks, total capacity 27.6 Moilbbl. - Kagoshima former Nippon Oil facility, 4000000 barrels (635,949,180 l). This is a forward commercial storage facility with Abu DhabiAbu DhabiAbu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
.
- Privately held reserves of petroleum held "in accordance with the Petroleum Stockpiling Law" of 129000000 barrels (20,509,361,055 l).
- Privately held reserves of petroleum products for another 130000000 barrels (20,668,348,350 l).
The state stockpile and the privately held stockpiles total about 583000000 barrels (92,689,592,985 l). The Japanese SPR is run by the Japan Oil, Gas and Metals National Corporation
Japan Oil, Gas and Metals National Corporation
, also known as JOGMEC, is a Japanese government Independent Administrative Institution which was created in 2004 when the former Japan National Oil Corporation merged with the former Metal Mining Agency of Japan.-History:...
South Korea
As part of the government’s energy security efforts, South KoreaSouth Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
holds strategic oil reserves to protect against oil supply disruptions. The country’s strategic oil reserve program is managed by the Korea National Oil Corporation
Korea National Oil Corporation
Korea National Oil Corporation is the national oil and gas company of South Korea and one of the most important industrial companies in the country...
, which reports that its system has the capacity to store 116000000 barrels (18,442,526,220 l) of oil. As of April 2007, KNOC held 76000000 barrels (12,083,034,420 l) of oil in its strategic stockpiles, 64000000 barrels (10,175,186,880 l) of crude oil and 12000000 barrels (1,907,847,540 l) of petroleum products.
This total amounts to approximately 34 days of net import cover, according to 2006 estimates of demand. KNOC has plans to expand the country’s strategic storage capacity from 116000000 barrels (18,442,526,220 l) to 146000000 barrels (23,212,145,070 l) by 2009, and to fill the emergency reserves to 141000000 barrels (22,417,208,595 l) by 2010.
Others
The PhilippinesPhilippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
has begun plans for a National Petroleum Strategic Reserve by 2010 with an approximate size of 30000000 barrels (4,769,618,850 l).
Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
has begun plans for a strategic petroleum reserve. Analysts estimate the size of the Russian SPR would be around 78000000 barrels (12,401,009,010 l).
Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
has an SPR composed of 31.8 Moilbbl of crude oil with an additional 64.5 Moilbbl of oil products for a total of 96300000 barrels (15,310,476,508.5 l).
Taiwan
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
has an SPR with a 1999 reported size of 13000000 barrels (2,066,834,835 l). Taiwan's refiners (Kaohsiung 270000 oilbbl/d; Ta-Lin 300000 oilbbl/d; Tao-Yuan 200000 oilbbl/d; Mailiao 150,000 bbl/d) are also required to store at least 30 days of petroleum stocks. As of 2005, these mandated commercial reserves total 27600000 barrels (4,388,049,342 l) of strategic petroleum stocks.
Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
has increased the size of its SPR from 60 days to 70 days of consumption in 2006.
Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
has begun plans for a 20 day emergency reserve.
European Union
In the European UnionEuropean Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
, according to Council Directive 68/414/EEC of 20 December 1968, all 27 members must have a strategic petroleum reserve within the territory of the E.U. equal to at least 90 days average daily internal consumption.
The Czech Republic
Czech Republic
The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
has a four tank SPR facility in Nelahozeves
Nelahozeves
Nelahozeves is a village on left bank of the Vltava river, 25 km north of Prague, Czech Republic. Population is 1,375 .The oldest surviving written document of Nelahozeves' existence dates back to 1352. The village has a three-winged Renaissance château of Italian castello type with arcades in...
run by the company CR Mero. The Czech SPR is equal to 100 days of consumption or 20300000 barrels (3,227,442,088.5 l).
Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
has a reserve of 81 days of consumption, equal to about 1,4 million tonnes of oil products. Not counting reserves held by the military defence.
Finland
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
has an SPR with an approximate size of 62400000 barrels (9,920,807,208 l).
France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
has an SPR with an approximate size of 65000000 barrels (10,334,174,175 l). As of 2000 jet fuel stocks were required for at least 55 days of consumption, with half of those stocks controlled by the Société Anonyme de Gestion des Stocks de Sécurité (SAGESS) and the other half controlled by producers.
Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
created the Federal Oil Reserve in 1970, stored in the Etzel salt caverns near Wilhelmshaven
Wilhelmshaven
Wilhelmshaven is a coastal town in Lower Saxony, Germany. It is situated on the western side of the Jade Bight, a bay of the North Sea.-History:...
in northern Germany, with an initial size of 70 Moilbbl. The current German Federal Oil Reserve and the Erdölbevorratungsverband (EBV) (the German stockholding company) mandates that refiners must keep 90 days of stock on hand, giving Germany an approximate reserve size of 250000000 barrels (39,746,823,750 l) as of 1997. The German SPR is the largest in Europe.
Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
has an SPR with approximately 90 days of consumption or 11880000 barrels (1,888,769,064.6 l).
Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
has approximately 31 days of oil stocks in Ireland and another 9 days of oil stocks held in fellow EU
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
members states. Additionally, they have stock tickets (contracts with a 3rd party where the government has the option to purchase in the event of an emergency) and stocks held by large industry or large consumers. On average Ireland has approximately 100 days of oil available.
Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
has an SPR with approximately 70 days of consumption. Another facility holding 20 additional days of consumption is scheduled to be completed in 2008. Poland also requires oil companies to maintain reserves sufficient for 73 days of production.
Portugal
Portugal
Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...
has an SPR with an approximate size of 22440000 barrels (3,567,674,899.8 l).
Slovakia
Slovakia
The Slovak Republic is a landlocked state in Central Europe. It has a population of over five million and an area of about . Slovakia is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south...
has an SPR with an approximate size of 748000 barrels (118,922,496.7 l).
Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
has an SPR with an approximate size of 120000000 barrels (19,078,475,400 l).
Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
has an SPR with an approximate size of 13290000 barrels (2,112,941,150.6 l).
The United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
has created a strategic reserve, the size is unknown.
Russia
Russia has begun accumulating strategic reserves of refined products which will be held by Rosneftegaz, the state-owned company. The reserves will be held at commercial refineries, Transneft facilities, and state reserve facilities. The current planned size is 14665982 barrels (2,331,704,806.7 l).Switzerland
SwitzerlandSwitzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
has SPRs consisting of gas, diesel, jet fuel and heating oil for 4.5 months of consumption. The reserves were created in the 1940s and were used for the first time in 2005 following Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
.
Iran
In April 2006 the Fars News Agency reported that IranIran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
has begun plans to create an SPR. The National Iranian Oil Company
National Iranian Oil Company
The National Iranian Oil Company , a government-owned corporation under the direction of the Ministry of Petroleum of Iran, is an oil and natural gas producer and distributor headquartered in Tehran. It was established in 1948...
(NIOC) has begun construction of 15 crude oil storage tanks with a planned capacity of 10000000 barrels (1,589,872,950 l). In August 2008, Iran announced plans to expand their SPR with a new facility on Kharg Island
Kharg Island
Kharg Island is a continental island in the Persian Gulf belonging to Iran. The island is located off the coast of Iran and northwest of the Strait of Hormuz. Administered by the adjacent coastal Bushehr Province, Kharg Island provides a sea port for the export of oil and extends Iranian...
containing 4 tanks holding 1000000 barrels (158,987,295 l) each. Iran's SPR facilities are:
- Ahwaz. 4 storage tanks, total capacity 2 Moilbbl.
- OmidiyehOmidiyehOmidiyeh is a city in and the capital of Omidiyeh County, Khuzestan Province, Iran. At the 2006 census, its population was 57,970, in 12,123 families.-External links:*...
. 3 storage tanks, total capacity 3 Moilbbl. - Goureh. 6 storage tanks, total capacity 4 Moilbbl.
- Sirri IslandSirri IslandSirri Island , is an island in the Persian Gulf belonging to Iran.Sirri island is situated 76 km from Bandar-e Lengeh and 50 km east of Abu Musa island. The island is one of six in the Abu Musâ Island Group ....
. 1 storage tank, total capacity 500000 barrels (79,493.6 m³). - Bahregansar. 1 storage tank, total capacity 500000 barrels (79,493.6 m³).
- Kharg IslandKharg IslandKharg Island is a continental island in the Persian Gulf belonging to Iran. The island is located off the coast of Iran and northwest of the Strait of Hormuz. Administered by the adjacent coastal Bushehr Province, Kharg Island provides a sea port for the export of oil and extends Iranian...
. 4 storage tanks, total capacity 4 Moilbbl. Planned facility, not operational yet.
Kuwait
KuwaitKuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
has a joint stockpile held in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
. The deal gives South Korea first rights to purchase the oil. The current size of the stockpile is 2 Moilbbl.
Others
As of 1975 IsraelIsrael
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
is believed to have a strategic oil reserve equal to 270 days of consumption.
Jordan
Jordan
Jordan , officially the Hashemite Kingdom of Jordan , Al-Mamlaka al-Urduniyya al-Hashemiyya) is a kingdom on the East Bank of the River Jordan. The country borders Saudi Arabia to the east and south-east, Iraq to the north-east, Syria to the north and the West Bank and Israel to the west, sharing...
has strategic oil reserves equal to 60 days of consumption or 6240000 barrels (992,080,720.8 l).
United States
The United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
has the largest reported Strategic Petroleum Reserve
Strategic Petroleum Reserve
The Strategic Petroleum Reserve is an emergency fuel storage of oil maintained by the United States Department of Energy.- United States :The US SPR is the largest emergency supply in the world with the current capacity to hold up to ....
with a total capacity of 727000000 barrels (115,583,763,465 l). If completely filled, the US SPR could theoretically replace about 60 days of oil imports as the US is estimated to import approximately 12000000 oilbbl/d of crude oil. According to the US Department of Energy the facilities maximum flow rate is limited to approximately 4400000 oilbbl/d when filled to maximum, with flow rate declining as the reserve is drawn down. The U.S. facilities are in salt caverns with locations in:
- Bryan Mound - located near Freeport, TexasFreeport, TexasFreeport is a city in Brazoria County, Texas within the Houston–Sugar Land–Baytown metropolitan area and is situated in Southeast Texas. As of the 2000 U.S...
. Capacity of 226000000 barrels (35,931,128,670 l). - Big Hill - located near Winnie, TexasWinnie, TexasWinnie is a census-designated place in Chambers County, Texas, United States. The population was 2,914 at the 2000 census.-Geography:Winnie is located at . According to the United States Census Bureau, the CDP has a total area of , all of it land.-Historical development:The town plat was filed in...
. Capacity of 160000000 barrels (25,437,967,200 l). - West Hackberry - located near Lake Charles, LouisianaLake Charles, LouisianaLake Charles is the fifth-largest incorporated city in the U.S. state of Louisiana, located on Lake Charles, Prien Lake, and the Calcasieu River. Located in Calcasieu Parish, a major cultural, industrial, and educational center in the southwest region of the state, and one of the most important in...
. Capacity of 219000000 barrels (34,818,217,605 l). - Bayou Choctaw - located near Baton Rouge, LouisianaBaton Rouge, LouisianaBaton Rouge is the capital of the U.S. state of Louisiana. It is located in East Baton Rouge Parish and is the second-largest city in the state.Baton Rouge is a major industrial, petrochemical, medical, and research center of the American South...
. Capacity of 72000000 barrels (11,447,085,240 l). - Richton, MississippiRichton, MississippiRichton is a town in Perry County, Mississippi, United States. It is part of the Hattiesburg, Mississippi Metropolitan Statistical Area. The population was 1,038 at the 2000 census.-Geography:Richton is located at ....
. A planned facility.
The US has also organized the 2 Moilbbl Northeast Home Heating Oil Reserve
Northeast Home Heating Oil Reserve
The Northeast Home Heating Oil Reserve was created in July 2000 to provide a reserve of heating oil for the approximately 5.3 million households in the Northeast region of the United States that use heating oil for their homes.-History:...
to supply northeast homeowners during shortages.
Oceania
New ZealandNew Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
has a strategic reserve with a 2008 size of 170,000 tons or 1200000 barrels (190,784,754 l). Much of this reserve is based on ticketed option contracts with Australia, Japan, the United Kingdom and the Netherlands, which allow for guaranteed purchases of petroleum in the event of an emergency.
See also
- Energy developmentEnergy developmentEnergy development is the effort to provide sufficient primary energy sources and secondary energy forms for supply, cost, impact on air pollution and water pollution, mitigation of climate change with renewable energy....
- Energy securityEnergy securityEnergy security is a term for an association between national security and the availability of natural resources for energy consumption. Access to cheap energy has become essential to the functioning of modern economies. However, the uneven distribution of energy supplies among countries has led...
- Peak oilPeak oilPeak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This concept is based on the observed production rates of individual oil wells, projected reserves and the combined production rate of a field...
- Strategic reserveStrategic reserveFor the military term see: Military reserveA strategic reserve is a term used to describe a reserve of a commodity or items, held back from normal use by governments, organisations or business in pursuance of a particular strategy or to cope with unexpected events.A strategic reserve can be:*...
External links
For more on APEC strategic reserves:- http://pzl1.ed.ornl.gov/APECSizeIAEEPaperFinal_Proceedings.pdf
- http://www.ieej.or.jp/aperc/2002pdf/OilStocks2002.pdf
For more info on the IEA reserves:
- http://www.iea.org/dbtw-wpd/Textbase/work/2003/asean/CZECH.PDF